I-3 - Taxation Act

Section 737.18.17.7 Disposition versions

2019-06-19

737.18.17.7. Where the corporation described in section 737.18.17.5 for a taxation year is a manufacturing corporation, within the meaning assigned by the first paragraph of section 771.1, to which paragraph d.3 of subsection 1 of section 771 applies for the year, section 737.18.17.6, as it reads in its application to a taxation year that begins before 1 January 2017, is to be read

(a)  as if “100/8 of” in subparagraph b of the first paragraph were replaced by “the product obtained by multiplying the proportion that is the reciprocal of the difference between the basic rate determined for the year in respect of the corporation under section 771.0.2.3.1 and the percentage determined for the year in its respect under section 771.0.2.5 by”; and

(b)  as if “8% of” in subparagraph i of subparagraphs b and d of the fifth paragraph were replaced by “the product obtained by multiplying the difference between the basic rate determined for the year in respect of the corporation under section 771.0.2.3.1 and the percentage determined for the year in its respect under section 771.0.2.5 by”.

2015, c. 21, s. 260; 2017, c. 1, s. 183; 2019, c. 14, s. 201.

2017-02-08

737.18.17.7. Where the corporation described in section 737.18.17.5 for a taxation year is a manufacturing corporation, within the meaning assigned by the first paragraph of section 771.1, to which paragraph d.3 of subsection 1 of section 771 applies for the year, section 737.18.17.6 is to be read

(a)  as if “100/8 of” in subparagraph b of the first paragraph were replaced by “the product obtained by multiplying the proportion that is the reciprocal of the difference between the basic rate determined for the year in respect of the corporation under section 771.0.2.3.1 and the percentage determined for the year in its respect under section 771.0.2.5 by”; and

(b)  as if “8% of” in subparagraph i of subparagraphs b and d of the fifth paragraph were replaced by “the product obtained by multiplying the difference between the basic rate determined for the year in respect of the corporation under section 771.0.2.3.1 and the percentage determined for the year in its respect under section 771.0.2.5 by”.

2015, c. 21, s. 260; 2017, c. 1, s. 183.

2015-10-21

737.18.17.7. Where the corporation described in section 737.18.17.5 for a taxation year is a manufacturing corporation, within the meaning assigned by the first paragraph of section 771.1, to which paragraph d.3 of subsection 1 of section 771 applies for the year, section 737.18.17.6 is to be read

(a)  as if “100/8” in subparagraph b of the first paragraph were replaced by,

i.  if subparagraph ii of subparagraph a of the first paragraph of section 771.0.2.5 applies to the corporation, “100/4”,

ii.  if subparagraph i of subparagraph a of the first paragraph of section 771.0.2.5 applies to the corporation, the ratio determined by the formula

100/{8 – [(A × 100) + (B × 100)]}, or

iii.  if subparagraph b of the first paragraph of section 771.0.2.5 applies to the corporation, the ratio obtained by dividing 100 by the amount by which 8 exceeds the aggregate of

(1)  the number determined by the formula

[A × (C – 25%)/25%] × 100, and

(2)  the number determined by the formula

[B × (C – 25%)/25%] × 100; and

(b)  as if “8%” in subparagraph i of subparagraphs b and d of the fifth paragraph were replaced by,

i.  if subparagraph ii of subparagraph a of the first paragraph of section 771.0.2.5 applies to the corporation, “4%”,

ii.  if subparagraph i of subparagraph a of the first paragraph of section 771.0.2.5 applies to the corporation, the percentage determined by the formula

8% – (A + B), or

iii.  if subparagraph b of the first paragraph of section 771.0.2.5 applies to the corporation, the amount by which 8% exceeds the aggregate of

(1)  the percentage determined by the formula

A × (C – 25%)/25%, and

(2)  the percentage determined by the formula

B × (C – 25%)/25%.

In the formulas in the first paragraph,

(a)  A is the proportion of 2% that the number of days in the taxation year that follow 4 June 2014 but precede 1 April 2015 is of the number of days in the taxation year;

(b)  B is the proportion of 4% that the number of days in the taxation year that follow 31 March 2015 is of the number of days in the taxation year; and

(c)  C is the proportion of the manufacturing or processing activities, within the meaning assigned by the first paragraph of section 771.1, of the corporation for the taxation year.

2015, c. 21, s. 260.